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BTCUSD to see a downtrend(4Hr) | Shift from buyers to sellers

Short
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Market in last 24hrs
  • BTCUSD saw an uptrend with price riding the upper band
  • Price volatility was very high. The market moved ~5.92%, between $13.86k and $13.08k
Today’s Trend analysis
  • BTCUSD expected to see a downtrend as the price after riding the upper band got a rejection from the upper band with Bollinger band expanding and lower highs observed
  • Price at time of publishing: $13,435
  • BTC’s market cap: $251 Billion
  • Oscillator indicators are mostly neutral. RSI at 60
  • Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  • Volume indicators observed a change from an increase in volume with a price increase to a decrease in volume with a price decline
Price expected to see a downtrend as the price after riding the upper band got a rejection from the upper band with Bollinger band expanding and lower highs observed. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size decreasing in the positive region suggesting bullish bias. RSI at 60, in the neutral region with a downmove. CCI at around 80, in the neutral region with a pullback from overbought. Another interesting point to notice here is that the volume observed a change from an increase in volume with a price increase to a decrease in volume with a price decline indicating a shift from buyers to sellers.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.

DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion.

Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .

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Comments

a bit too early to call it, but yes, this may happen
soon. some more upside remains, so this dip
will get bought up soon.
+1 Reply
Nice idea!
Reply
DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion.
Reply
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
Reply
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